The heavy selloff on the Nasdaq two weeks ago seems quaint now as the index rebounds. Apple (AAPL), the world's biggest tech company, posted stronger-than-expected quarterly results and boosted its dividend. Its shares jumped more than 7%, and are likely to help send the Nasdaq sharply higher. Facebook (FB), the world's biggest social network, also weighed in with a beat.

United Parcel Service (UPS), the shipping giant that is also seen as an economic bellwether, posted a quarterly miss, blaming "unusually harsh weather."

Microsoft (MSFT), Amazon.com (AMZN), Visa (V) and a slew of other big companies are set to report after the closing bell.

Traders will also get a duo of economic reports. Economists expect 310,000 people to have filed for first-time jobless benefits last week, up from 304,000 the week prior. Meanwhile, orders for long-lasting goods are forecast to have jumped 2% in March on a month-to-month basis.